In 1964, the Sixth Ministry of Machine Building was created[6] to oversee China's shipbuilding enterprises, which were predominantly engaged in military work.[7] In July 1982,[8] as part of defence industry reforms and "defence conversions", the ministry was converted into the China State Shipbuilding Corporation.[7] CSSC remained under state control but was permitted to operate with "a degree of market-based economic autonomy".[9] CSSC shifted the industry's focus to commercial work; by 1992, 80% of output was to the civilian sector,[8] and in 1993 half of the commercial output was for export.[10]
Spinning off CSIC
In the late 1990s, economic reforms broke up state-owned monopolies and introduced "a limited amount of free-market competition" to improve the efficiency of defence industries.[11][12] In July 1999, the China Shipbuilding Industry Corporation (CSIC) was spun off from CSSC.[12] The shipbuilding industry was divided roughly along geographical lines: CSSC retained assets in the east and south,[13] and CSIC gained control in the northeast and inland.[14] Both reported to the State-owned Assets Supervision and Administration Commission (SASAC).[15] CSSC emerged as the smaller entity.[13][16] Enterprises not affiliated with either conglomerate included shipyards owned by the People's Liberation Army (PLA), provinces, municipalities, foreign joint ventures, and Chinese shipping companies.[15][17]
Merging with CSIC
Preparations for merging CSIC and CSSC date back to at least 2010, when Hu Wenming became CSSC's party secretary, in anticipation of an industry decline.[18] Hu was a strong supporter of the merger; he was CSSC chairman from 2012 to 2015, and then CSIC chairman from March 2015 until his retirement in August 2019 because of corruption.[19] The decision to merge the conglomerates may have influenced not only by a slowing economy,[20] but also the discovery of widespread corruption in CSIC and Hu's involvement in it.[19][20][21]
The CSIC and CSSC merger was approved by SASAC in October 2019,[22][23] and occurred in November 2019; the combined entity took the CSSC name. The reorganization was complete by September 2020. The new entity was the world's largest shipbuilder with 20% global market share and US$110 billion in assets.[20]
^Allen-Ebrahimian, Bethany (2020-06-24). "Defense Department produces list of Chinese military-linked companies, 20 years after mandate". Axios. Retrieved 2020-06-24.
^"Ex-Chairman of CSIC Under Investigation for Corruption". The Maritime Executive. Retrieved 2022-03-18.
^Watanabe, Shin (26 October 2019). "Top Chinese shipbuilders CSSC and CSIC win approval for merger". Nikkei Asian Review. Dalian, CH.
^"Beijing Gives Green Light for CSSC-CSIC Merger". The Maritime Executive. October 25, 2019.
^Chen, Shawna (November 12, 2020). "Trump bans Americans from investing in 31 companies with links to Chinese military". Axios. Retrieved November 12, 2020.
^Pamuk, Humeyra; Alper, Alexandra; Ali, Idrees (2020-11-12). "Trump bans U.S. investments in firms linked to Chinese military". Reuters. Retrieved 2020-11-12.
^Swanson, Ana (2020-11-12). "Trump Bars Investment in Chinese Firms With Military Ties". The New York Times. ISSN 0362-4331. Retrieved 2020-11-13.
Sources
Collins, Gabriel; Grubb, Michael C. (August 2008). A Comprehensive Survey of China's Dynamic Shipbuilding Industry (Report). China Maritime Studies. Vol. 1. United States Naval War College. Retrieved 5 January 2021.
Medeiros, Evan S.; Cliff, Roger; Crane, Keith; Mulvenon, James C. (2005). A New Direction for China's Defense Industry(PDF). RAND Corporation. ISBN0-8330-3794-3.
External links
Wikimedia Commons has media related to China State Shipbuilding Corporation.
Official website
January 17, 2023
china, state, shipbuilding, corporation, confused, with, csbc, corporation, taiwan, china, shipbuilding, industry, corporation, cssc, chinese, shipbuilding, conglomerate, limitednative, name中国船舶集团有限公司typestate, ownedindustryshipbuilding, defensepredecessor中国船舶. Not to be confused with CSBC Corporation Taiwan or China Shipbuilding Industry Corporation The China State Shipbuilding Corporation CSSC is a Chinese shipbuilding conglomerate China State Shipbuilding Corporation LimitedNative name中国船舶集团有限公司TypeState ownedIndustryShipbuilding defensePredecessor中国船舶工业总公司 1982 1999 中国船舶工业集团有限公司 1999 2019 FoundedMay 4 1982 40 years ago 1982 05 04 as 中国船舶工业总公司 HeadquartersHuangpu District Shanghai ChinaArea servedWorldwideKey peopleZhang Yindgai Chairman Number of employees310 000 2019 ParentSASACWebsitewww cssc net cnChina State Shipbuilding CorporationSimplified Chinese中国船舶工业总公司Traditional Chinese中國船舶工業總公司TranscriptionsStandard MandarinHanyu PinyinZhōngguo Chuanbo Gōngye Zǒng GōngsiAlternative Chinese nameSimplified Chinese中船总公司Traditional Chinese中船总公司TranscriptionsStandard MandarinHanyu PinyinZhōng Chuan Zǒng GōngsiChina CSSC Holdings Limited 中国船舶工业股份有限公司TypeSubsidiaryIndustryShipbuildingFounded1998HeadquartersShanghai ChinaArea servedWorldwideKey peopleDong Qiang 董强 Chairman ParentChina State Shipbuilding CorporationWebsiteChina CSSC Holdings LimitedChina State Shipbuilding Corporation LimitedSimplified Chinese中国船舶工业集团有限公司Traditional Chinese中國船舶工業集團有限公司TranscriptionsStandard MandarinHanyu PinyinZhōngguo Chuanbo Gōngye Jituan Yǒuxian GōngsiAlternative Chinese nameSimplified Chinese中船工业Traditional Chinese中船工業TranscriptionsStandard MandarinHanyu PinyinZhōng Chuan GōngyeCSSC gantry cranes in June 2012 Contents 1 Description 2 History 2 1 Early developments 2 2 Spinning off CSIC 2 3 Merging with CSIC 2 4 U S sanctions 3 See also 4 References 4 1 Citations 4 2 Sources 5 External linksDescription EditCSSC is one of the top 10 defence groups in China 1 It consists of various shipyards equipment manufacturers research institutes and shipbuilding related companies that build both civilian and military ships It owns some of the most well known shipbuilders in China such as Dalian Shipbuilding Industry Company Jiangnan Shipyard Hudong Zhonghua Shipbuilding Guangzhou Huangpu Shipbuilding 2 and Guangzhou Wenchong Shipyard 3 Its subsidiary China CSSC Holdings Limited SSE 600150 is listed on the Shanghai Stock Exchange and in turn owns other subsidiaries including Shanghai Waigaoqiao Shipbuilding 4 As of 2022 CSSC builds around 41 percent of all ships 5 All CSSC ships are built to military specifications according to Chinese government doctrine 5 History EditEarly developments Edit In 1964 the Sixth Ministry of Machine Building was created 6 to oversee China s shipbuilding enterprises which were predominantly engaged in military work 7 In July 1982 8 as part of defence industry reforms and defence conversions the ministry was converted into the China State Shipbuilding Corporation 7 CSSC remained under state control but was permitted to operate with a degree of market based economic autonomy 9 CSSC shifted the industry s focus to commercial work by 1992 80 of output was to the civilian sector 8 and in 1993 half of the commercial output was for export 10 Spinning off CSIC Edit In the late 1990s economic reforms broke up state owned monopolies and introduced a limited amount of free market competition to improve the efficiency of defence industries 11 12 In July 1999 the China Shipbuilding Industry Corporation CSIC was spun off from CSSC 12 The shipbuilding industry was divided roughly along geographical lines CSSC retained assets in the east and south 13 and CSIC gained control in the northeast and inland 14 Both reported to the State owned Assets Supervision and Administration Commission SASAC 15 CSSC emerged as the smaller entity 13 16 Enterprises not affiliated with either conglomerate included shipyards owned by the People s Liberation Army PLA provinces municipalities foreign joint ventures and Chinese shipping companies 15 17 Merging with CSIC Edit Preparations for merging CSIC and CSSC date back to at least 2010 when Hu Wenming became CSSC s party secretary in anticipation of an industry decline 18 Hu was a strong supporter of the merger he was CSSC chairman from 2012 to 2015 and then CSIC chairman from March 2015 until his retirement in August 2019 because of corruption 19 The decision to merge the conglomerates may have influenced not only by a slowing economy 20 but also the discovery of widespread corruption in CSIC and Hu s involvement in it 19 20 21 The CSIC and CSSC merger was approved by SASAC in October 2019 22 23 and occurred in November 2019 the combined entity took the CSSC name The reorganization was complete by September 2020 The new entity was the world s largest shipbuilder with 20 global market share and US 110 billion in assets 20 U S sanctions Edit Further information United States sanctions against China In November 2020 American entities were prohibited by U S Presidential Executive Order 13959 from owning shares in companies including CSSC linked to the PLA by the United States Department of Defense 24 25 26 See also EditHu Chuanzhi former CEO of the CSSC List of largest shipyardsReferences EditCitations Edit Allen Ebrahimian Bethany 2020 06 24 Defense Department produces list of Chinese military linked companies 20 years after mandate Axios Retrieved 2020 06 24 Shipyard CSSC GUANGZHOU HUANGPU SHIPBUILDING CO Ltd Shipyard Guangzhou Wenchong Shipyard New Buildings About Us a b Waterfield Bruno 26 December 2022 Chinese fleet of militarised ships a threat to trade The Times ISSN 0140 0460 Retrieved 2022 12 27 Collins and Grubb pg 6 a b Medeiros et al pg 113 a b Collins and Grubb pg 7 Collins and Grubb pg 5 Collins and Grubb pg 8 Collins and Grubb pg 9 10 a b Medeiros et al pg 114 a b Medeiros et al pg 117 Medeiros et al pg 120 a b Collins and Grubb pg 9 Medeiros et al pg 121 Medeiros et al pg 115 116 Minnie Chan 26 October 2019 Merger of China s shipbuilding giants gets the green light South China Morning Post Archived from the original on 26 October 2019 Retrieved 6 January 2021 a b Zi Yang 19 May 2020 The Invisible Threat to China s Navy Corruption The Diplomat Retrieved 6 January 2021 a b c Nouwens Meia 4 September 2020 Is China s shipbuilding merger on course International Institute for Strategic Studies Retrieved 6 January 2021 Ex Chairman of CSIC Under Investigation for Corruption The Maritime Executive Retrieved 2022 03 18 Watanabe Shin 26 October 2019 Top Chinese shipbuilders CSSC and CSIC win approval for merger Nikkei Asian Review Dalian CH Beijing Gives Green Light for CSSC CSIC Merger The Maritime Executive October 25 2019 Chen Shawna November 12 2020 Trump bans Americans from investing in 31 companies with links to Chinese military Axios Retrieved November 12 2020 Pamuk Humeyra Alper Alexandra Ali Idrees 2020 11 12 Trump bans U S investments in firms linked to Chinese military Reuters Retrieved 2020 11 12 Swanson Ana 2020 11 12 Trump Bars Investment in Chinese Firms With Military Ties The New York Times ISSN 0362 4331 Retrieved 2020 11 13 Sources Edit Collins Gabriel Grubb Michael C August 2008 A Comprehensive Survey of China s Dynamic Shipbuilding Industry Report China Maritime Studies Vol 1 United States Naval War College Retrieved 5 January 2021 Medeiros Evan S Cliff Roger Crane Keith Mulvenon James C 2005 A New Direction for China s Defense Industry PDF RAND Corporation ISBN 0 8330 3794 3 External links Edit Wikimedia Commons has media related to China State Shipbuilding Corporation Official website Retrieved from https en wikipedia org w index php title China State Shipbuilding Corporation amp oldid 1132394776, wikipedia, wiki, book, books, library,
